DutchNews, March 7, 2017
ABN Amro is to provide additional funding
to expand its digital banking subsidiary MoneYou, the Financieele Dagblad said
on Tuesday.
The state-owned bank hopes to attract hundreds of thousands of new
clients throughout Europe to add to its present customer base of 500,000, which
is largely in the Netherlands.
‘We plan to make MoneYou into an online bank of
European proportions,’ said Frank
Verkerk, who as chief digital officer at ABN Amro is partly responsible for
MoneYou. The online unit was mentioned only once in the bank’s last 80-page
quarterly report.
In eight years, MoneYou has accumulated 500,000 customers in
the Netherlands, Belgium, Germany and Austria with a total of €20bn in deposits.
This represents about 25% of the savings deposited with ABN Amro itself, the FD
said.
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